R-11-98 02/09/98RESOLUTION NOA ` I/
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR HIRSEKORN RIDGE SUBDIVISION
WHEREAS, pursuant to the Subdivision Regulations, an owner or developer of a subdivision
is required to deposit certain security or evidence thereof with the Village of Lemont to guarantee
the installation of such improvements; and
WHEREAS, in the matter of Hirsekorn Ridge Subdivision, located on the north side of
McCarthy Road and west of Carriage Ridge Estates Units I & II in Lemont, Illinois, an Irrevocable
Letter of Credit #96 -458, State Bank of Countryside, in the amount of $1,275,997.56 was deposited
February 6, 1996 to cover remaining public improvements; and
WHEREAS, reductions in said Letter of Credit have been approved for work completed from
time to time; and
WHEREAS, Hirsekorn -Janas Partnership has made application for a reduction of the
Irrevocable Letter of Credit #96 -458 in the amount of $320,592.82; and
WHEREAS, a duly authorized agent of the Village of Lemont has inspected certain portions
of the improvement and has found these portions to have been satisfactorily installed;
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that:
SECTION 1: Approval pursuant to the Lemont Subdivision Control Ordinance is hereby
recommended for the improvements completed to date.
SECTION 2: The Irrevocable Letter of Credit #96 -458 is hereby reduced to $216,728.35.
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that the Irrevocable Letter of Credit #96 -458 for Hirsekorn Ridge Subdivision is
hereby reduced to $216,728.35.
v.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DU PAGE, ILLINOIS, on
this 9th day of February , 1998.
Barbara Buschman
Keith Latz
Connie Markiewicz
Rick Rimbo
Ralph Schobert
Mary Studebaker
Approved by me this 9th da
AYES NAYS PASSED ABSENT
HARLENE M. SMOLLEN, Village Clerk
A. KWAS KI, Village President
ENE M. SMOLLEN, Village Clerk